Until today no blockchain has achieved decentralization, security and scalability at the same time. MultiVAC has the objective to be the first blockchain solution to achieve these three conflicting variables through a trusted sharding model. Sharding will be performed independently for transaction processing and for smart contract execution. Decentralized applications that will run on MultiVAC will be able to determine the number of nodes on which they wish to run their code.
MultiVAC is designed considering the three relevant dimensions in blockchain technology which are computation, storage, and transmission. The processing capacity of the MultiVAC network increases with the number of nodes.
How advanced is the project?
As of the second quarter of 2018 MultiVAC has released the white paper and completed the design of the UTXO sharding transactions and the interactive TX verification. The MultiVAC Telegram Group counts with more than 20,000 members. The mainnet should launch in the second quarter 2019.
What are the tokens used for and how can the token value appreciate?
The native token on the MultiVAC blockchain is called MTV. The token is used to reward nodes that contribute computation, storage and data transmission ressources to the network. Just as the Ethereum blockchain, the total market capitalization of the MultiVAC blockchain will increase as demand for the usage of the network increases.
Team & Advisors
The MultiVAC team consists of a core team of three founders and several researchers and engineers that are involved with the project.
Frank Lyu is the founder of MultiVAC. He has several years of experience in software engineering and worked for companies such as Baidu.
Xiang Ying is the co-founder and CTO of MultiVAC. Besides working for some time as a software engineer he pursued an academic career. After completing his PhD and PostDoc he worked as an Assistant Professor at Tianjin University.
Claire Wong is the Chief Marketing Officer and co-founder of MultiVAC. She counts with several years of experience as a director of Marketing at a different company.
Among the advisors of MultiVAC are Yang Jun, an entrepreneur, Roger Lim, a blockchain investor, Chen Chang, a blockchain investor, He Ying, a professor at Nanyang University, Lai Binqiang, a tech executive, Chen Liang, a tech entrepreneur, and Johnny Lyu, who is involved with the KuCoin exchange.
Shards on MultiVAC are created through a probability model based on Verifiable Random Functions (VRF). The platform introduces a new consensus algorithm called PoIE which stands for Proof of Instruction Execution. This consensus mechanism requires a proof on the base layer of instruction sequences and represents a high real-world physical cost.
MultiVAC counts with a virtual machine called MVM that is capable of general-purpose computation. The virtual machine includes BISC, which stands for Blockchain Instruction Set Computer. BISC enables developers to choose the number of nodes on which they want to run their decentralized applications. The higher the number of nodes selected is, the better will be the security provided for the dApp. Programming languages that will be supported include Java, Go, C and C++. Just as on the Ethereum blockchain, gas charges will apply for every transaction on the virtual machine.
Strength and Opportunities
MultiVAC counts with a strong and experienced team. The team is supported by capable and acknowledged advisors. On top MultiVAC managed to secure a broad range of investors. These are all factors that will likely lead towards a successful ICO.
Compared to other blockchain platforms MultiVAC enables developers to customize the deployment of their decentralized application on the blockchain. However, if this feature will be successful it is likely that other blockchain projects will adopt it, so it may not be a strong competitive advantage.
Weaknesses and Threats
Just as so many other blockchain projects, MultiVAC is trying to find a solution for blockchain scalability. The competition in this field is very strong. There are several other established blockchain projects and crypto startups with the same objective. It will be difficult to be the winner of this race.
Compared to other blockchain platforms, MultiVAC could not yet present a large number of corporate partnerships. However, adoption of the MultiVAC blockchain by enterprises will likely be one of the core factors for the success of the project.
MultiVAC is still at a very early stage compared to its main competitors. However, the convincing background of the team as well as of the investors and advisors point to a possible solid performance at the ICO stage. The market capitalization thereafter will depend on how well the team can execute on the roadmap and how the adoption of the MultiVAC blockchain compares to competitive projects.
* The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.